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| *Loan,banking and credit>>>mortgage loan |
Can you get a mortgage if you are still paying off student loans? |
The loans are always paid on time, but there is still a couple more years to go. I'm not hurting for money and there is enough saved up for a down payment and I can afford the monthly payment for a mortgage and taxes and insurance. I have a salary job. Would the bank finance me? You are not hurting for money and you have enough for a down payment and you can afford your propossed monthly payments + tax + ins. You are a perfect candidate for a mortgage loan (given that you have a good credit and other variables of course). Generally a student loans is simply looked at as another debt just as a credit card debt. So if you income provides enought to cover all the current debt you have: student loans, credit cards, car loans, etc, etc, than you should be able to qualify and ge financing for a home. Good luck on your purchase! Source(s): http://www.wonderagents.com/neymontenegr... http://jrealestate.blogspot.com... Real Estate, Mortgage & Credit information Sure....As long as your budget can afford the house payment, that's all that matters. Go into a bank and talk to a loan officer about the percentage of income that you need to afford the house. Yes, you can get a mortgage if you are still paying off student loans. You need to figure out how much mortgage you can afford on your salary, how much of a down payment you have (20% is preferred) and what your debt to income ratio is. The website below has information that may help you. Good luck! http://www.mortgage101.com/articles/rate... I have a huge student loan and still purchased a condo. They will consider your debt to income ratio and the loan officer was concerned a little bit, but if you can afford the loan, taxes and insurances it will be fine. It is really scary at first but it all works out at the end Yes, of course. It depends a lot on your other bills -- always keep up with them. Good luck. |
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